The Customer Value Management Body of Knowledge (CVMBoK) is intended to serve as a guide for organization leaders, managers, and professionals in customer value management across various industries.
Many resources delve into specific aspects of customer value management, but a comprehensive overview akin to the Project Management Body of Knowledge (PMBoK) or the Data Management Body of Knowledge (DMBoK) has been lacking. This guide aims to fill that gap. Hence, the purpose of this CVMBoK.
Purpose of CVMBoK
- For Organization Leaders, Managers, and CVM Professionals:
To clearly define roles within CVM, establish a common framework, and promote knowledge sharing and collaboration. - For Other Organizational Roles:
To improve support for, and understanding of, CVM functions across the enterprise.
Why CVMBoK? Challenges of Knowledge Sharing and Collaboration in CVM
Customer Value Management (CVM) is complex and commercially sensitive, necessitating confidentiality. Consequently, many CVM experts operate in isolation, safeguarding sensitive information and proprietary approaches across the industry. While this approach can be beneficial in the short term, it hinders long-term development by causing loss of know-how, redundant efforts, and a lack of standardized terminology, reference materials, and certification processes. This confidentiality, coupled with the complexity of the role, means that the discipline of CVM is evolving much slower than it could, affecting not just one but multiple industries.
The CVMBoK aims to provide a common resource to fill knowledge gaps and promote the collaboration while maintaining confidentiality. This guide achieves this by avoiding overly specific examples and omitting contributor names, focusing on essential advice for broad application. Many companies excel in CVM and can contribute valuable insights to this resource. Sharing know-how helps organizations identify and address their gaps. This guide includes insights from real organizations without naming them, promoting easier information sharing and growth in the CVM profession.
Structure of CVMBoK
This section provides a roadmap of the CVMBoK, outlining its structure and guiding readers through the content.
Section 1 – Preface
Introduces the Customer Value Management Body of Knowledge (CVMBoK), explaining its purpose and how to effectively utilize it.
Section 2 – Defining Customer Value Management
Defines the scope and definition of Customer Value Management (CVM). It elaborates on the systematic approach CVMBoK adopts to organize and clarify the field, proposing a structured framework to comprehensively understand and apply CVM concepts.
Section 3 – The Role of CVM in an Organization
Analyzes the role of Customer Value Management’s function within various organizational structures. This section details how CVM integrates into business operations, its strategic importance, and outlines the critical Key Performance Indicators (KPIs) that measure its effectiveness and impact.
Section 4 – The Work of Customer Value Managers
This chapter delves into the core responsibilities and strategic initiatives of Customer Value Managers, detailing how they drive business impact through various CVM programs designed to increase Customer Lifetime Value (CLV), including customer lifecycle management, loyalty programs, and more.
Section 5 – CVM Technology
This chapter outlines the essential technological components and architecture necessary for effective Customer Value Management.
Section 6 – Cross-Functional Collaboration in CVM
This chapter explores the essential role of cross-functional collaboration in CVM, covering its core importance and detailing the collaboration with various functional areas. Each section outlines the purpose of the functional area, how it impacts CVM, related CVM work, the outputs provided by CVM, key handshakes to consider, and the impact of collaboration quality on CVM team results.
Section 7 – Strategic CVM Alignment and Transformation
Provides a series of detailed guides on strategic alignment and transformation within CVM. This section aims to be a growing resource, offering systematic, actionable advice tailored to address frequent challenges and scenarios encountered in CVM practice.
Section 8 – Literature, Authors and Contributors
This section includes foundational and recommended literature that influences CVM practices, acknowledges the authors and contributors of CVMBoK, and provides guidance and encouragement for readers on how to contribute to the ongoing development of the CVMBoK.
